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20110701
20110731
Search Results 0 to 6 of about 7 (some duplicates have been removed)
time. there's a big but there, which is, at the same time, you know, owning a home is really a sign of financial stability. if you're able to do it. and so i don't think it's going to be as bad as, you know, the great depression evidence of people who just never invest in the stock market again. but, you know, hopefully people are going to be a little more responsible about that decision. >> we can only hope. jim carr from the national community reinvestment coalition, communities need the housing market to recover. state and local governments, they're expected to shed more than 100,000 jobs in the third quarter. without the property tax revenues they can't fund operations. communities are facing an uphill battle here if people can't buy homes, jim. >> right. well you're absolutely right. and the problem is not is if the somehow things are leveling out. we're on route to another 2 million foreclosures this year and probably have at least another 2 million in the pipeline on top of that. and so despite the good news that you talked about earlier at the top of the show, the reality of
's megamillions. >> the odds of you standing there with the big check are just north of zero. so, why do we buy a ticket? >> are you ready. >> scott hotel is part of duke university's neuroeconomics team, exploring among other things why smart people make foolish decisions with their money. >> people don't buy a lottery ticket just because they have a chance of winning. they will buy a ticket because over the next couple days it allows them to fantasize what they would do if they won the lottery. in a sense they're paying for that experience rather than a chance for the lottery itself. >> it's not just the lottery. nathan zweig know is firsthand and put his brain to the test with scott's team at duke. >> it's a combination of neuroscience and economics basically using the tools of scanning and other measurement technology that neuroscientists have used for years to study how the human brain evaluates risk and reward over time, which is what investing is all about. >> reporter: from investing to buying a home, to why and how often we go on a spending spree. what researchers are learning is that
there's a big difference between the two. so the comparison doesn't really ring true with me because we can't do things like raise taxes. only thing we can do is get job number three and four. it's important to, of course, look at your own budget and own debt levels. in terms of the government's situation, it's very, very different. i don't think the comparison really gels for right now. again, we can't raise the money like they can. >> right. >> we have to pay attention to how much debt we're holding on to and how much we're paying for it. if the rating changes of our country and debt. >> your rate may go up. >> our rates are going to change and that's going to cost a lot. >> i agree that it's not the same. i would say the closest annualo for many people is how much money they have invested in their house which may not be worth what it was when they paid for it. >> this is huge. we had a big report from pew research center about the drop in minority wealth. the biggest culprit is the housing market. so much of the net worth put in the housing market. the best thing you can do in times
Search Results 0 to 6 of about 7 (some duplicates have been removed)

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